Cubist Systematic Strategies LLC Makes New $419,000 Investment in Carter Bankshares, Inc. (NASDAQ:CARE)

Cubist Systematic Strategies LLC purchased a new stake in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 23,803 shares of the company's stock, valued at approximately $419,000. Cubist Systematic Strategies LLC owned 0.10% of Carter Bankshares at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CARE. Fourthstone LLC lifted its holdings in shares of Carter Bankshares by 100.7% in the 4th quarter. Fourthstone LLC now owns 551,013 shares of the company's stock valued at $9,692,000 after buying an additional 276,532 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of Carter Bankshares by 27.9% in the 4th quarter. Kennedy Capital Management LLC now owns 324,569 shares of the company's stock valued at $5,709,000 after buying an additional 70,836 shares during the period. Mendon Capital Advisors Corp acquired a new stake in shares of Carter Bankshares in the 4th quarter valued at approximately $1,128,000. JPMorgan Chase & Co. lifted its holdings in shares of Carter Bankshares by 101.1% in the 4th quarter. JPMorgan Chase & Co. now owns 124,453 shares of the company's stock valued at $2,189,000 after buying an additional 62,574 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Carter Bankshares by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,988 shares of the company's stock valued at $17,871,000 after buying an additional 51,987 shares during the period. 41.48% of the stock is owned by institutional investors and hedge funds.

Carter Bankshares Price Performance

NASDAQ CARE traded up $0.29 during mid-day trading on Thursday, hitting $16.15. The stock had a trading volume of 11,218 shares, compared to its average volume of 71,284. Carter Bankshares, Inc. has a 52-week low of $11.96 and a 52-week high of $20.40. The company has a market cap of $373.93 million, a price-to-earnings ratio of 15.23 and a beta of 0.68. The company has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $17.06. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. The firm had revenue of $37.22 million during the quarter, compared to the consensus estimate of $34.90 million. Equities analysts forecast that Carter Bankshares, Inc. will post 1.26 EPS for the current fiscal year.

Carter Bankshares Company Profile

Carter Bankshares, Inc operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposits.